Corporate Updates – 15-12-2016

Seminar on Insolvency & Bankruptcy Code, 2016

NIRC of ICSI is organising a full day Seminar on the theme “Insolvency and Bankruptcy Code, 2016” on Saturday, the 17th December, 2016 from 10 AM onwards at Hotel Eros, Nehru Place, New Delhi. The Program will inaugurated by CS (Dr.) M. S. Sahoo, Chairperson, IBBI and shall also be addressed by the eminent speakers. Fee : Rs.1,750/- per delegate inclusive of service tax ; FREE for Corporate Members of NIRC; PCH – 4.


MCA has revised the version of e-forms : Form INC-18 (Application to Regional director for conversion of section 8 company into company of any other kind), Form DIR-3 (Application for allotment of Director Identification Number) and Form MGT-14 (Filing of Resolutions and agreements to the Registrar) are likely to be revised on MCA portal with effect from 17th Dec’ 2016. All the stake holders are advised to check the latest version of the form before filing.


CBDT has clarified that the provision to file a revised return of income u/s 139(5) of the Act has been stipulated for revising any omission or wrong statement made in the original return of income and not for resorting to make changes in the income initially declared so as to drastically alter the form, substance and quantum of the earlier disclosed income. It is brought to the notice of tax payers that any instance coming to the notice of Income-tax Department which reflects manipulation in the amount of income, cash-in-hand, profits etc. and fudging of accounts may necessitate scrutiny of such cases so as to ascertain the correct income of the year and may also attract penalty/prosecution in appropriate cases as per provision of law.

News from NIRC of ICSI

NIRC – ICSI announces niro and also through signed hard copy addressed to The Chairman, NIRC of ICSI, ICSI-NIRC Building, Plot No.4, Prasad Nagar Institutional Area, Near Rajendra Place, New Delhi – 110005). Three best entries shall be awarded with a Citation, Trophy, Cash Prize & Publications.

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